UPDATE 1-Swedbank CEO sees no need for extra capital

* Swedbank says well capitalised in spite of Baltic losses

* Swedbank CEO secure with developments so far

* Says Q2 has been "very tough" in the Baltics

(Adds quotes, detail, background)

VISBY, Sweden, June 30 (Reuters) - Swedbank's (SWEDa.ST) top executive said on Tuesday the Swedish bank was not in need of new capital in spite of mounting losses in the Baltic region, where it has extended billions of euros of loans.

Swedbank, which is facing souring loans in the region after a credit boom turned to bust, has already raised $1.5 billion through a rights issue, and Chief Executive Michael Wolf said this should be enough.

The company plunged to a much deeper than expected operating loss in the first quarter and the bank forecast bad loans would continue to grow. [ID:nLN150939]

This left some analysts wondering if the bank would need fresh capital, but when asked by journalists on the sidelines of a conference, Wolf said: "No, we are well capitalised... We feel secure with developments since we recognise them from our scenarios."

"We have said that the rate of increase (of loan losses) would remain high during the second quarter and have no reason to revise that," Wolf said.

"We predicted that the second quarter would be very tough and it has been," he said about this situation in the Baltics. (Reporting by Johan Sennero; writing by Niklas Pollard; editing by Simon Jessop)